WHY SELL NOW? As the pandemic continues to accelerate the property market, is now a good time to sell? Or are you better off waiting for more price growth? Picking the exact timing of a downturn or upturn is tricky, even with the best information. Right now, we’re continuing to see strong property market conditions, however there is potentially a major change to lending which could slow things down. Here is the latest summary of what’s happening with Australian residential property right now. House prices are at record highs Australian house prices are on average, the highest they’ve ever been. And there are few places where this isn’t the case. What has been interesting this cycle is how consistent across the country increases have been. Topping the list in dollar terms are Sydney’s eastern suburbs where the median has increased by nearly $1 million since the start of the pandemic. However, in percentage terms, the Far West and Orana region of New South Wales, which includes Dubbo and Broken Hill, has achieved the highest increase of 57 per cent. Capital city and regional areas have all seen prices take off.
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